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Sallie Mae & Nelnet TL's falling off reports!!

Established Member

Sallie Mae & Nelnet TL's falling off reports!!

Sallie Mae was reporting twice on my reports. 1 tradeline was under Sallie Mae and the other under the Guarantor. Same thing with Nelnet. I paid those loans off early last year but nither lender would remove from my reports until 7 years were up. I also had a few other baddies on my reports which I have since resolved. A couple months ago, the Guarantors started removing there tradelines.

 

Fast Forward, Today we reached 7 years and the Sallie Mae and Nelnet tradelines have begun to fall off. Actually, my TU and EX are now completely clean and those scores jumped 75-85 points. Equifax still has the Sallie Mae tradeline which should be gone soon.

Message 1 of 11
10 REPLIES
Established Contributor

Re: Sallie Mae & Nelnet TL's falling off reports!!

Congrats! I know that was a long awaited journey... I sense an App spree coming soon!

Message 2 of 11
Established Member

Re: Sallie Mae & Nelnet TL's falling off reports!!


TheFate wrote:

Congrats! I know that was a long awaited journey... I sense an App spree coming soon!


Thanks

Message 3 of 11
Regular Contributor

Re: Sallie Mae & Nelnet TL's falling off reports!!

Very nice news! I hate that creditors refuse to remove baddies when you make good on a mistake. I understand the responsibility aspect, but 7 years is a long time considering how long we live.


NPSL............... $20,700........... $15,200.......... $5,000............ $15,000............ $20,000
Current Scores: Equifax: 761 (Fico) TransUnion: 751 (Fico) Experian: 768 (Fico)
Message 4 of 11
Frequent Contributor

Re: Sallie Mae & Nelnet TL's falling off reports!!

Congrats!  Long time to wait though.. I know your pain and I know several others must as well, Nelnet and Fed loan REFUSE to even touch any baddies.  Why should early life mistakes effect us during 7 of our most important years... it just blows my mind all together that they won't budge at all, not even a few months early..

I started at a 486 on 2/18/2013, I broke 700's by mid 2015 before falling again to under the 600's. Slowly climbing! Started at $200 on 12/1/2014 I now have over $35.000 in Credit Smiley Happy
Message 5 of 11
Member

Re: Sallie Mae & Nelnet TL's falling off reports!!

So if they wont remove them from the report what is the advantage of paying the loan thats in default at all? If you dont pay will it fall off the report in 7 years?

Message 6 of 11
Frequent Contributor

Re: Sallie Mae & Nelnet TL's falling off reports!!


DraconTesla wrote:

So if they wont remove them from the report what is the advantage of paying the loan thats in default at all? If you dont pay will it fall off the report in 7 years?


Wage garnishment? I'm curious to that as well thou if you just avoid the collections and somehow avoid garnishment and taxes, what happens after seven years,, I'd assume eventually they would just take your tax refund if any but I'm curious...

I started at a 486 on 2/18/2013, I broke 700's by mid 2015 before falling again to under the 600's. Slowly climbing! Started at $200 on 12/1/2014 I now have over $35.000 in Credit Smiley Happy
Message 7 of 11
Established Member

Re: Sallie Mae & Nelnet TL's falling off reports!!


Cookie2120987 wrote:

DraconTesla wrote:

So if they wont remove them from the report what is the advantage of paying the loan thats in default at all? If you dont pay will it fall off the report in 7 years?


Wage garnishment? I'm curious to that as well thou if you just avoid the collections and somehow avoid garnishment and taxes, what happens after seven years,, I'd assume eventually they would just take your tax refund if any but I'm curious...


They place you in the Federal Tax Offset Program and any reunds your due will go straight to the lender/guarantor first. If anything is leftover, you recieve the rest.

Message 8 of 11
Established Member

Re: Sallie Mae & Nelnet TL's falling off reports!!

I no longer have any baddies on any of my Credit Reports Smiley Very Happy

Message 9 of 11
Regular Contributor

Re: Sallie Mae & Nelnet TL's falling off reports!!

Congrats. That must be a wonderful feeling.

Starting Score: 400s (2011) Current: EQ 655 (01-2014) Goal: 700 Last app: 01-01-14. No apps 'til 12-2014!
Message 10 of 11